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    Assignmentkarla Company Provided The Following Information For 2016 PDF Free

    Uploaded by

    Patrisha Carpio Beley
    The document provides financial information for Karla Company in 2016, including revenues from purchases, rental income, and sales totaling $7,850,000. It also lists various expenses such as purchases, freight costs, commissions, depreciation, inventory amounts, returns and allowances, taxes, and losses. The instruction is to prepare an income statement using the data provided.

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    Download as PDF, TXT or read online from Scribd

    Assignmentkarla Company Provided The Following Information For 2016 PDF Free

    Uploaded by

    Patrisha Carpio Beley
    107 views1 page
    The document provides financial information for Karla Company in 2016, including revenues from purchases, rental income, and sales totaling $7,850,000. It also lists various expenses such as purchases, freight costs, commissions, depreciation, inventory amounts, returns and allowances, taxes, and losses. The instruction is to prepare an income statement using the data provided.

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    Pdfcoffee.com Assignmentkarla Company Provided the Following Information for 2016 PDF Free

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    The document provides financial information for Karla Company in 2016, including revenues from purchases, rental income, and sales totaling $7,850,000. It also lists various expenses such as purchases, freight costs, commissions, depreciation, inventory amounts, returns and allowances, taxes, and losses. The instruction is to prepare an income statement using the data provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    107 views1 page

    Assignmentkarla Company Provided The Following Information For 2016 PDF Free

    Uploaded by

    Patrisha Carpio Beley
    The document provides financial information for Karla Company in 2016, including revenues from purchases, rental income, and sales totaling $7,850,000. It also lists various expenses such as purchases, freight costs, commissions, depreciation, inventory amounts, returns and allowances, taxes, and losses. The instruction is to prepare an income statement using the data provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Karla Company provided the following information for 2016 Karla Company provided the following information for

    ation for 2016

    Purchases 5,250,000.00 Purchases 5,250,000.00


    Purchases Returns and Allowances 150,000.00 Purchases Returns and Allowances 150,000.00
    Rental income 250,000.00 Rental income 250,000.00
    Selling Expenses: Selling Expenses:
    Freight Out 175,000.00 Freight Out 175,000.00
    Salesmen's commission 650,000.00 Salesmen's commission 650,000.00
    Depreciation-store equipment 125,000.00 Depreciation-store equipment 125,000.00
    Merchandise Inventory, January 1 1,000,000.00 Merchandise Inventory, January 1 1,000,000.00
    Merchandise Inventory, December 31 1,500,000.00 Merchandise Inventory, December 31 1,500,000.00
    Sales 7,850,000.00 Sales 7,850,000.00
    Sales Returns and Allowances 140,000.00 Sales Returns and Allowances 140,000.00
    Sales Discount 10,000.00 Sales Discount 10,000.00
    Administrative Expenses: Administrative Expenses:
    Officers' Salaries 500,000.00 Officers' Salaries 500,000.00
    Depreciation-office equipment 300,000.00 Depreciation-office equipment 300,000.00
    Freight In 250,000.00 Freight In 250,000.00
    Income Tax 500,000.00 Income Tax 500,000.00
    Loss on Sale of Equipment 50,000.00 Loss on Sale of Equipment 50,000.00
    Purchase Discounts 100,000.00 Purchase Discounts 100,000.00
    Dividend Revenue 150,000.00 Dividend Revenue 150,000.00
    Loss on Sale of Investments 50,000.00 Loss on Sale of Investments 50,000.00

    Instruction: Instruction:
    Prepare an income statement Prepare an income statement

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